Developers sign cost-sharing deals for 2 GW solar in Egypt - report

The 39 companies that will install some 1.95 GW of solar power capacity in the Aswan governorate of Egypt entered into cost-sharing agreements with the Ministry of Electricity this week.

The contracts cover the costs for building roads and substations, Daily News Egypt reported on Wednesday, quoting an unnamed senior official. The projects will be developed under the country's feed-in tariff (FiT) scheme.

The 39 companies are supposed to pay next week 30% of the cost-sharing value, or EGP 350 million (USD 44.7m/EUR 41m) in total, to the Egyptian Electricity Transmission Company and the Renewable Energy Authority, the source has said.

According to the report, 24 renewable energy firms signed the contract on Tuesday and a further 11 did so on Wednesday. The list includes names such as Enel Green Power, EDF, Orascom and Lekela Power.

(EGP 10 = USD 1.277/EUR 1.174)

Choose your newsletter by Renewables Now. Join for free!